Down 30% and Still Growing its Payout: 1 Canadian Stock I'd Snap Up
Brookfield Renewable looks undervalued, with massive scale, inflation-linked contracts, and U.S. policy tailwinds that could drive steady income and multi-year growth.
When seeking investment opportunities, it can be challenging to decide which companies will rise to the top. However, Brookfield Renewable Partners (TSX:BEP.UN) is a top contender.
The Canadian stock has dropped from its 2021 highs due to shifting sentiment towards renewable energy infrastructure, rising interest rates, and increased costs. Despite this, the drop presents a "buying the dip" moment for long-term investors.
The business is built on clean power assets, making it an attractive option.
Brookfield Renewable looks undervalued, with massive scale, inflation-linked contracts, and U.S. policy tailwinds that could drive steady income and multi-year growth.
Author's summary: Brookfield Renewable is a valuable Canadian stock.
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